Singapore stocks open muted on Thursday
Singapore shares dipped slightly in early trade on Thursday (May 4) following confirmation of a 25 basis point Fed rate hike.
$Seatrium(S51.SG$ was the most traded stock by volume on Thursday morning, with 17.4 million shares changing hands, although its share price remained unchanged at S$0.13.
Index counter $Singtel(Z74.SG$ was also actively traded in terms of both volume and value, rising S$0.02 or 0.8 per cent to S$2.59.
A day after the controlling Ong family revised its privatisation deal for $Lian Beng(L03.SG$ , the counter rose S$0.03 or 4.6 per cent to match the raised offer price of S$0.68 per share in early trade.
The US central bank increased its benchmark interest rate from 5 per cent to 5.25 per cent overnight, with all three major US indices dipping at Wednesday’s close.
$Dow Jones Industrial Average(.DJI.US$ ended down 0.8 per cent at 33,414.24, the $S&P 500 Index(.SPX.US$ was down 0.7 per cent to 4,090.75, and the $Nasdaq Composite Index(.IXIC.US$ was 0.5 per cent lower at 12,025.33.
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